Kraken Robotics (OTCMKTS:KRKNF) Trading 7.4% Higher – Here’s What Happened

Shares of Kraken Robotics Inc. (OTCMKTS:KRKNF) were up 7.4% during trading on Friday . The stock traded as high as $4.75 and last traded at $4.7463. 908,235 shares traded hands during trading, a decline of 35% from the average session volume of 1,395,056 shares. The stock had previously closed at $4.42.

Wall Street Analysts Forecast Growth

KRKNF has been the subject of several recent analyst reports. Zacks Research raised shares of Kraken Robotics to a “hold” rating in a report on Friday, March 13th. ATB Cormark Capital Markets downgraded shares of Kraken Robotics from a “hold” rating to a “strong sell” rating in a report on Thursday, March 12th. Scotiabank upgraded shares of Kraken Robotics to a “strong-buy” rating in a research report on Tuesday. Finally, Desjardins raised shares of Kraken Robotics to a “moderate buy” rating in a research note on Thursday, March 12th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy”.

Kraken Robotics Price Performance

The firm has a market capitalization of $1.76 billion and a PE ratio of -475.20. The business has a 50-day simple moving average of $5.18 and a 200-day simple moving average of $5.69.

Kraken Robotics (OTCMKTS:KRKNF) last released its earnings results on Thursday, May 28th. The company reported ($0.01) earnings per share for the quarter. The firm had revenue of $15.60 million during the quarter, compared to analysts’ expectations of $18.30 million.

Kraken Robotics Company Profile

Kraken Robotics Ltd. is a marine technology company headquartered in St. John’s, Newfoundland and Labrador, Canada. The company specializes in the design, development and manufacture of advanced underwater robotic platforms and sensor systems. Kraken’s solutions are built to support a range of subsea activities, from high-resolution seabed mapping and inspection to autonomous data collection and remote operations.

Kraken’s product suite includes synthetic aperture sonar, side-scan and interferometric sonar arrays, laser imaging systems, and acoustic ranging sensors, as well as autonomous underwater vehicles (AUVs) and remotely operated vehicles (ROVs).